It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time. I retired with about $650k in my 401k.

@mikey43221

3 ай бұрын

People don't really know this, You need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving

@tmer831

3 ай бұрын

I wholeheartedly concur. At 60 years old and newly retired, my external retirement funds total around One million two hundred fifty thousand dollars.. With no debt and minimal retirement fund allocation relative to my portfolio's value over the last three years, I recognize the importance of a financial advisor. Neglecting them isn't an option; however, thorough research is vital to find a trustworthy fiduciary advisor.

@DavidCovington-st2id

3 ай бұрын

This aligns perfectly with my desire to organize my finances prior to retirement. Could you provide me with access to your advisor?

@tmer831

3 ай бұрын

Vivian Carol Gioia is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

@DavidCovington-st2id

3 ай бұрын

Thank you for this Pointer. It was to find her handler, She seems very proficient and flexible. I booked a call session with her.

Becoming a millionaire through a Roth IRA or a 401(k) involves different strategies for maximizing profits. A Roth IRA offers tax-free withdrawals in retirement, which can be advantageous if you expect to be in a higher tax bracket later in life. On the other hand, a 401(k) provides tax-deferred growth and potential employer contributions, boosting your savings. The optimal choice depends on factors like your current and future tax situation, employer match, and investment options. Consulting a financial advisor can help tailor a strategy that aligns with your financial goals and circumstances.

@Elkemartin213

7 ай бұрын

Prioritizing effective personal finance management holds greater significance than the sheer amount saved, irrespective of income source. Consulting a certified financial advisor can offer tailored strategies to optimize financial results by reducing expenses and enhancing income, regardless of whether it's earned through employment or investments.

@CindyValenti

7 ай бұрын

I wholeheartedly concur. At 60 years old and newly retired, my external retirement funds total around One million two hundred fifty thousand dollars.. With no debt and minimal retirement fund allocation relative to my portfolio's value over the last three years, I recognize the importance of a financial advisor. Neglecting them isn't an option; however, thorough research is vital to find a trustworthy fiduciary advisor.

@SteveEstrada-js9nu

7 ай бұрын

@@CindyValenti This aligns perfectly with my desire to organize my finances prior to retirement. Could you provide me with access to your advisor?

@CindyValenti

7 ай бұрын

I'm guided by “Vivian Carol Gioia” an experienced coach with extensive financial market knowledge. While you can consider other options, her strategy has yielded positive results for me. She offers valuable insights, including entry and exit points for the securities I concentrate on.

@SteveEstrada-js9nu

7 ай бұрын

Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.

It is recommended to save at least 15% of your income in a 401k account. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) account can help ensure you have enough money to retire comfortably. By saving this much, you can benefit from compound interest and potentially increase your retirement savings over time. I don't think I could retire with less than $3 million in income-producing investments, and I'm not talking about a 401k, but maybe at least $2 million. I plan to work until I'm at least 50. I have already achieved 60% of my goal.

@ScottArmstrong12

7 ай бұрын

Everyone needs to hear this, you need to create your own process, manage risk and stick to the plan, thick or thin, while continually learning from mistakes and improving.

@suzannehenderson5

7 ай бұрын

Exactly, that’s all you need: “A good process”. I turned to a fiduciary financial advisor when I needed a good boost to help my business stay afloat. So I looked for financial advisors and came across someone with due diligence who really helped me increase my reserve from $75,000 to about $850,000 so far despite inflation.

@DaleHorne8

7 ай бұрын

I'm glad I came across this discussion. If you don't mind, could you tell me how I can contact the financial advisor who helps you with your investments?

@suzannehenderson5

7 ай бұрын

I started out with a CFP called “Natalie Lynn Fisk. Her honest approach gives me complete ownership and control of my position, and her rates are incredibly affordable given my ROI. However, do your due diligence before contacting a CFP.

@DaleHorne8

7 ай бұрын

Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.

As a soon-to-be retiree, keeping my 401k on track after a bumpy 2022 is a high goal. I've read about investors generating up to $250k ROI in this present sinking market; any suggestions for increasing my ROI before retirement would be greatly appreciated.

@Grace.milburn

7 ай бұрын

Yes, you are right. it's been a brisk tailwind for lnvestors in US stocks over the decades but it is still a delicate season now, so I advise you to consider the guidance of a financiaI advisor.

@mariaguerrero08

7 ай бұрын

A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.

@91ScottieP

7 ай бұрын

@@mariaguerrero08 Please can you leave the info of your investment advisor here? I’m in dire need for one.

@mariaguerrero08

7 ай бұрын

CAMILLE ALICIA GARCIA maintains an online presence. Just make a simple search for her name online.

@JackBJacobs233

7 ай бұрын

Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.

I just found your podcast and I feel like you’re that mentor/coach uncle I never had 🙌🏻🙌🏻🙌🏻

My inheritance, a whooping 1m has grown only 4.72% in the past 12 months. In this bear environment does investing w/ a brokerge account under a custodian outperform a 401k? should I seek a pro to grow my funds on brokerage or still hold? I have 5 years to retirement. Happy to discuss.

@Javier_Rodri

7 ай бұрын

Mine was 8.16%, I used to dca into etfs but I reconsidered the strategy since I am still way behind after the massive downturn since Jan last year.

@benalfredo

7 ай бұрын

I don’t want to touch it despite dwindling savings and losing both my jobs. I wish to grow it aggressively if I must draw it down, hence my question.

@clintscott3300

7 ай бұрын

Be careful not to be lured into the market too soon, this current situation has really opened my eyes to the importance of a good mentor on KZread or elsewhere knowing what he/she is doing.

@Javier_Rodri

7 ай бұрын

Who is this manager you use? I lost over 35000 already this year, I’m in need of a planner going forward.

@Javier_Rodri

7 ай бұрын

I did some findings on her, she really seem to know her stuff. educational background, qualifications was really impressive. Kudos and thanks for sharing. I left her a note and booked a consult.

Thank you, 😊 Mark!

Thank you for sharing this video, much appreciated!

Great info. Thank you

Thank you so much. I am currently in the military, USN. It has been hard, trying to do side hussle with military obligations. I am 5 years away from 20 years of service. Are there benefits for retired veterans? Where?

Thank you fpr yout aeesome onfo.!!!

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What advice would you give someone who is already basically retired (although not retirement age) and living on dividends? I feel like the market isn't keeping up with inflation and the principal is shrinking.

What if you manage an STR? Does rental income still need to transfer to a management company?

In my taxable account I went into dividend investing route. In my Roth I did the buy and hold route with an S&P 500 etf and total market etf along with some Berkshire B stock and SCHD.

@RobertDamanii

8 ай бұрын

I am a dividend investor for the most part but I have bought Tesla stock a couple of times. However I have bought Tesla stock again and will hold for the long haul this time.

@RoseBalerus

8 ай бұрын

It’s always good to have a financial plan. I work with a licensed planner and fixed-income strategist in LA that helps me sort out these plans of investments

@LeeParkchu

8 ай бұрын

People downplay planner’s role, until they are burnt by their mistakes. That’s why I’ve been working with expert planners like CHRIS RYAN STEWART

@TheDuke792

8 ай бұрын

Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.

@John-ww2fv

8 ай бұрын

@@TheDuke792 I've actually been looking into advisors lately, the news I've been seeing in the market hasn't been so encouraging. who's the person guiding you?

So If I have a traditional IRA with 100k in it I can convert it to Roth IRA right now? Same thing with 401K correct?

I'd like to know more about this "side door" How does one capitalize on that?

Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly..

@tahirisaid2693

7 ай бұрын

This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor??

Can you use a "property management" company? (to set-up a solo 401K)

@CoolestGuyInTheRoom

8 ай бұрын

Not if you have an employee other than your spouse.

I been trying to see what a solo and how to create it but there's nothing about it I'm an uber driver and don't know what or how to open one its any video explaining what a solo and how a person can start one do I have to go to the city get a permit what is it?

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Inflation has a greater impact on people's cost of living than a crashing stock or housing market, resulting in an immediate and tangible effect. This explains the current high level of negative market sentiment, and our need for assistance in surviving this challenging economy. The financial markets have underperformed due to fears of inflation, causing stock and bond prices to plummet. Despite sounding basic, consulting a financial advisor has enabled me to outperform the market and achieve a profit of $850,000 since June 2022, making it the ideal approach to enter the financial markets today.

Is it ok if I live in my real estate and write off 50% of the value because I am renting short term on air bnb a room or two equivelent to 50% of it? If so, the place is worth 150 k , half is 75 does that mean i can only write off approximately only 7k ? thnx.

You don't need an attorney to do a Solo 401K. I'm setting one up right now with Schwab .. they have all the boilerplate documents. You only need an attorney if your doing something fancy.

How do mandatory distributions work with a solo 401k?

@iamhere2play

8 ай бұрын

Depends if it's ROTH or TRAD. TRAD has them, ROTH doesn't.

@CoolestGuyInTheRoom

8 ай бұрын

99% same as regular 401K

@thirdnormalform

8 ай бұрын

@@iamhere2play Thank you!

Thanks for breaking down the solo 401k benefits! If you're ready to take your retirement savings up a notch, consider adding crypto to the mix. My Digital Money's platform makes it easy for anyone to get started, no matter their level of experience.

Inflation makes 401k pointless

@noblexavierrossom

8 ай бұрын

No it doesn't you just dont know how to leverage yours

@musicdudem6673

8 ай бұрын

Time to learn more, it’s ok I’m at the same level

@jurczakc

8 ай бұрын

How do I beat inflation?

@noblexavierrossom

8 ай бұрын

@@jurczakc lower your expenses and invest in appreciating assets, start a business S-corp and make everything a business expense for write offs.

@yesira18

8 ай бұрын

So the alternative is to save money at a lower rate or spend the money ?